A Specter roams through the world, the Specter of Global Terrorism.Many politicians and commentators keep warning us of the imminent threat of Islamic extremism and terrorism. They lump together bin Laden's global jihadists, various radical Islamists with clearly national agenda, and devout Islamic fundamentalists with no political agenda, all under the same broad umbrella labeled militant Muslims, or simply 'global terrorist networks.' These same commentators then take this heterogeneous groups with at times contradicting goals, and bundle them together in what I would call securitization of terrorism, to borrow a popular now term from the financial sector. Then just like the bad mortgage security assets they sell them to the general public, raising the expectations of Armageddon any minute now.

You don't know what I am talking about? Did you see Dick Chaney last week on the TV? America, he said, is less secure now with the current president than before. Really?! Well,…